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State of the energy sector address by Petroleum Minister

By Ahmed Tolba In his first statement as Petroleum Minister, Osama Kamal has hinted that energy subsidies could be cut as part of measures to address shortages in Egypt. A number of proposals to rationalise energy consumption would be discussed in the coming period, Kamal said, noting that a large portion of the subsidies benefit …

Daily News Egypt

Communications Ministry aims to extend high-speed internet to 75% of families by year’s end

By Mohamed Fawzi Several experts from the communications sector confirmed its stability, adding that its strategy moving forward will not see a dramatic change. They stressed, however, that the Ministry of Communications’ policies and strategies should not depend on the performance of individuals, but on studies and analyses regarding the sector’s circumstances, needs and requirements. …

Daily News Egypt

Minister of Industry: The economy is capable of overcoming the current stage

By Salah El-Monoufy Hatem Saleh, Minister of Industry and Foreign Trade, confirmed that the Egyptian economy is capable of overcoming the current stage, particularly because Egypt has a strong infrastructure, which makes high growth rates possible within the coming period. In a statement, the minister said that during the coming period the ministry will focus …

Daily News Egypt

Exchange rate of USD reached a new peak

The price of U.S. dollars in Egyptian pounds reached record rates last Sunday. The exchange rate increased at exchange to EGP 6.07 for buying and 6.08 for selling for the first time in 7 years, compared to 6.06 for buying and 6.07 for selling the day before, according to the Central Bank of Egypt (CBE). …

Daily News Egypt

The Arab African Bank launches e-business

By Islam Serour Capitalising on the internet boom in Egypt, the African Arab Bank (AAIB), in co-operation with Amadeus and Cloud Lock International, has announced the launching of a more secured online payment gateway through its Click2Shop service. “The new product provided by the AAIB and supported by Wallety security system will diminish the risks …

Daily News Egypt

Entropy

Explore our magical skies, and try to avoid getting shot down by stray bullets that are being shot by neighbour to kill neighbour, all over this blessed land

Mahmoud Salem

Snake hunter Sheikh El-Tayeb Morsy Abdel-Rahman Sherief

The snake hunters of the Refai Sufi order

The ancient profession is founded on the need of people to render their environment safe.Snake hunting in the tradition of the Refai, a profession that grew into a form of Sufism, requires piety and a deep sense of religion.

Daily News Egypt

Seats laid out at Cimatheque ready for audiences to enjoy the film screenings Hana Al-Bayaty

Cairo underground cinema

Cimatheque is a multi-purpose space dedicated to celebrating film and independent filmmakers in Egypt. It is meant to be a dynamic work space for independent filmmakers to collaborate, research and network, aiding the development of their talents.

Luiz Sanchez

Children line up at a charity supported school in Cairo (File photo) AFP PHOTOS

Concert for charity

Tawasol for Developing Establ Antar is an nongovernmental organization (NGO) which works with children who have dropped out of school. The NGO says it provides around 140 primary school children with a chance to continue education and teaches them sports.

Hend Kortam

Transportation authorities meet new Minister to discuss solutions for sector’s ills

The Minister of Transportation, Dr Mohamed Rashad, held a meeting with directors and officials of transportation authorities, companies and the ministry, to study plans for the coming period. The directors shared their vision for the future, stressing the necessity of providing and developing infrastructure. They also discussed the importance of reshaping transportation so that it …

Daily News Egypt

Vodafone Egypt nets EGP 2.9b during Q2

Vodafone Egypt’s revenues amounted to EGP 2.9 billion by the end of the second quarter, compared to EGP 2.8 billion in the first quarter, with a growth rate of 2.5 percent. The domestic company acquired 2.7 percent of Global Vodafone’s revenues with a value of £10.7 billion. Vodafone Egypt’s Internet subscribers reached 5 million users …

Daily News Egypt

EU funds city sanitation and beautification project

By Mohamed El-Atroush The Chairman of the Federation of Egyptian Chambers of Commerce (FECC), Ahmed El-Wakeel, revealed that the Alexandria Chamber of Commerce obtained financing for the first stage of a project to remove trash and to beautify the city. The European Union (EU) is providing the financing for the project, which will cost EGP 40 …

Daily News Egypt

Experts advocate real estate companies to partner up

By Ahmed Samir Political disturbances in Egypt affected investment in a number of sectors, particularly the real estate sector, which has suffered from a lack of liquidity and capital flow. Developers have begun to search for greater liquidity, either through joint ventures and partnerships or merging with other companies in order to increase companies’ capital. …

Daily News Egypt

Egypt among the group of most optimistic countries about their future Global Consumer Confidence declines three points to 91 in Q2 2012

Consumer Confidence among Egyptians reached 103 points in Q2 2012, up 6 points from last quarter, which is the highest increase in MENAP.  Consumer Confidence is the highest since the survey was established in 2005 – placing Egypt among the group of countries most optimistic about their future. Global consumer confidence declined three index points …

Daily News Egypt

Employees at Ministry of State for Administrative Development protest their marginalisation in the new cabinet

By Mohamed Fawzy Employees in the Ministry of State for Administrative Development (MSAD) organised a demonstration at the Ministry’s headquarters the day before yesterday to protest against their Ministry being overlooked in the new cabinet. Officials within the MSAD indicated that a meeting had been set between Dr Ashraf Abdel Wahab, the acting head of …

Daily News Egypt

Illicit Gains Authority to tackle high-profile embezzlement

By Moustafa Salah and Wafaa Abdel Bari Judicial sources within the Illicit Gains Authority have said that a schedule is to be put together soon to end the problem of embezzlement of Egyptian funds. The authority plans on addressing the problem in co-operation with the United Kingdom, Switzerland, and European Union countries to which money …

Daily News Egypt